South Australian Current Regulations South Australian Current Regulations62D—Preservation of components
If an employer component has been preserved under regulation 62B(2) or
62C, then the following provisions will apply:
(a) the
Board must in relation to a component preserved under regulation 62C, not
less than 6 months before the relevant member's 55th birthday
(unless that period has already been reached), notify the relevant member in
writing of his or her entitlement to require the Board to make a payment under
paragraph (b);
(b) the
relevant member may at any time after reaching 55 years of age require
the Board to authorise payment of the component and, if no such requirement
has been made on or before the date on which the member reaches 65 years
of age, the Board will authorise payment of the component to the member;
(c) if
the relevant member—
(i)
has become incapacitated and satisfies the Board that the
member—
(A) is suffering from ill health (whether
physical or mental) that makes it unlikely that the member will at any future
time engage in gainful employment for which the member is reasonably qualified
by education, training or experience or for which the member could be expected
to become reasonably qualified following appropriate training or
rehabilitation; and
(B) is receiving treatment from a
medical practitioner in respect of the ill health and is following the advice
of the practitioner; or
(ii)
satisfies the Board that he or she is suffering from a
terminal illness,
the Board will authorise payment of the component to the member;
(d) if
the relevant member dies, the component will be paid—
(i)
if the member has a
legal personal representative—to the representative; and
(ii)
if the member does not have a
legal personal representative but is survived by a spouse—to the spouse;
and
(iii)
if the member does not have a
legal personal representative and is not survived by a spouse—to the
member's estate,
(and a payment under any of the above paragraphs excludes further rights so
that a claim cannot be subsequently made under some other paragraph).